Forex news for the European morning trading session 19 Sept 2017

News:

Data:

A very busy session not done any justice by the lack of headlines but it was all about the flows and price action.

Here's the summary:

  • early yen weakness saw core pairs underpinned with USDJPY rallying up to 111.89, EURUSD 1.2005, GBPUSD 1.3552, AUDUSD 0.8003
  • EUR strength overall saw EURJPY up to highs of 134.16 not seen since Dec 2015
  • EURGBP highs of 0.8900 capped cable gains
  • GBPJPY rapid turnaround from 151.60 to 150.45 ( hedge fund flows cited) saw GBPUSD back down to 1.3469 in rapid time but has traded back above 1.3500 since
  • EURCHF posted 1.1565 highs not seen since the SNB remover the 1.2000 CHF cap.
  • USDCHF by EURCHF demand underpinned to post highs of
  • USDCAD traded tightly 1.2265-1.2305 caught in the cross ccy cross fire

Pictures illustrate better than words.

GBPJPY 15m

GBPUSD 15m

EURUSD 15m

USDJPY 15m

Oil has made a few gains on hawkish supply cut talk with WTI trading up to $50.80 from a decent line in the sand now at $50.20. Gold has been trading tightly $1306-1310

Data to come includes US housing sector reports but these markets are paying scant regard for data right now.

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